Chinese EV maker GAC to invest in Europe even after report Beijing is against plan

Wei Haigang, CEO of GAC International, said expansion in Europe is an important part of the Guangzhou-based company’s growth strategy, adding that it hopes to bring a large number of electric cars to the European market next year.

“We are reviewing plans to localize production (in Europe),” he said Friday in Hong Kong. “A final decision will be made if there is a substantial demand.”

GAC International is a subsidiary that focuses on business outside China.

The report added that the government’s request was not a mandatory order.

Wei said he was not aware of such a directive from Beijing and that GAC is adamant about tapping the European market, even with additional tariffs of up to 35.3 percent being applied to vehicles. electrics made in China.